STARHEALTH: Star Health and Allied Insurance Company Limited has informed the Exchange about disclosure under Regulation 30 of SEBI LODR 2015.
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Awaiting price reaction for this filing.
Star Health has received an order from IRDAI dated July 25, 2025, levying a penalty of Rs. 3.39 crore under the IRDAI Information & Cyber Security Guidelines, 2023. The penalty relates to certain lapses in data safeguard and cyber security practices. The company has stated that the financial impact is limited to the penalty amount itself and there is no expected impact on operations or other activities. Star Health is evaluating its options, including filing an appeal before the Securities Appellate Tribunal (SAT).
The penalty of Rs. 3.39 crore is small relative to Star Health's overall business and is treated as a one-time financial impact with no operational disruption. However, the cyber security lapse could dent investor sentiment, and the company's decision to appeal signals it may contest the penalty. Short-term negative sentiment is possible, but long-term impact depends on the appeal outcome.